WASHINGTON (Reuters) – Lockheed Martin Corp’s F-35 fighter jet is making good progress as it nears initial combat use by the U.S. Marine Corps in July 2015, but the company must still finalize the software needed to deliver weapons and fuse data from its many sensors, the Pentagon’s F-35 program chief told Reuters on Wednesday.
“Getting to 2015 there’s a whole lot of things that have to be put in place, not the least of which is the software on the program,” Lieutenant General Chris Bogdan, the Air Force three-star general who took over the helm of the $392 billion F-35 program around one year ago, said in an interview.
WASHINGTON (Reuters) – The U.S. Air Force may have to cut funding for research and development unless Congress reverses a law requiring across the board spending cuts, the No. 2 Air Force acquisition official said.
Lieutenant General Charles Davis, military deputy to the Air Force’s top weapons buyer, said Pentagon leaders were determined to protect funding in new technologies, but the Air Force would have to cut funding in that area somewhat to ensure the readiness of its forces if sequestration stayed in effect.
WASHINGTON (Reuters) – A new video is circulating on the Internet that pokes fun at Lockheed Martin Corp’s (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jet while lauding the F/A-18 built by rival Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz), the latest salvo in an increasingly pitched battle over Canadian fighter orders.
In the video, two little boys compare what they were able to buy with the $10 they each got from their grandfather. One shows off his stealthy new F-35 fighter, while the other proudly reports that he was able to buy three F/A-18 plus 10 years’ worth of logistics support for the same amount.
WASHINGTON, Dec 3 (Reuters) – Executives at U.S. weapons
makers on Tuesday said they were cautiously optimistic that U.S.
lawmakers would reach agreement on an interim federal budget to
smooth out across-the-board cuts in military funding in fiscal
2014 and 2015.
Chief Executive William Swanson of Raytheon Corp and
Chief Financial Officer Bruce Tanner of Lockheed Martin Corp
said on Tuesday they did not expect Congress to reach a
comprehensive agreement on reducing the federal deficit, which
would help the Pentagon avert the threat of $500 billion in
military spending cuts over the next decade.
WASHINGTON (Reuters) – Raytheon Co (RTN.N: Quote, Profile, Research, Stock Buzz) is hoping to finalize orders valued at $4 billion to $5 billion from countries in the Middle East in a matter of weeks, Chief Executive William Swanson told an investor conference on Tuesday.
Swanson said he just returned from a visit to the region, including stops in Qatar, Oman, Kuwait and Saudi Arabia, where he met with senior leaders about an array of missile defense deals and other orders.
WASHINGTON, Dec 3 (Reuters) – Raytheon Co is hoping
to finalize orders valued at $4 billion to $5 billion from
countries in the Middle East in a matter of weeks, Chief
Executive William Swanson told an investor conference on
Swanson said he just returned from a visit to the region,
including stops in Qatar, Oman, Kuwait and Saudi Arabia, where
he met with senior leaders about an array of missile defense
deals and other orders.
WASHINGTON (Reuters) – Mandatory U.S. budget cuts known as sequestration are resulting in job losses across the country and threaten to undermine U.S. competitiveness in the global economy, industry executives and academics said on Monday, urging Congress to reverse the cuts.
Wes Bush, chief executive of Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), one of the biggest U.S. weapons makers, said his company had already reduced its workforce by 19 percent in recent years, and more cuts were likely unless U.S. lawmakers ended the across-the-board cuts required under sequestration.
WASHINGTON, Dec 2 (Reuters) – The Pentagon has recertified
an internal cost-tracking system used by Lockheed Martin Corp’s
aeronautics division, freeing up progress payments that
were docked starting in 2010 after problems arose with the
system, Lockheed said on Monday.
According to a company statement, the Pentagon’s Defense
Contract Management Agency (DCMA) said it decided to recertify
Lockheed’s earned value management system (EVMS) after marked
improvements in the company’s approach to fixing the system.
WASHINGTON (Reuters) – South Korea’s plan to buy 40 Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jets will save the U.S. military about $2 billion by driving down the per-plane price of the new plane, and could create up to 10,000 U.S. jobs, according to sources familiar with the program.
Seoul’s decision will also help to offset any move by the U.S. Air Force and Navy to deal with mandatory budget cuts by postponing orders for up to 54 jets over the next five years, according to analysts. Seoul’s decision must still be approved by a committee chaired by its defense minister.
WASHINGTON, Nov 26 (Reuters) – Command Technology Inc, a
privately held firm that developed electronic maintenance
manuals for Lockheed Martin Corp’s F-16 fighter jet, has
won a $24.8 million judgment against the Pentagon’s biggest
supplier for unfair competition.
Groton, Connecticut-based Command makes similar software for
many other U.S. weapons systems, but sued Lockheed after being
shut out of the work on the 4,500 F-16 fighter jets that have
been sold to the U.S. military and two dozen other countries.